12 Undervalued Cyclical Stocks to Buy Right Now

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8. Boyd Gaming Corporation (NYSE:BYD)

Forward P/E Ratio: 11.97

Earnings Growth: 6.57%

Number of Hedge Fund Holders: 34

Boyd Gaming Corporation (NYSE:BYD) is a major gaming operator in the United States. The company runs 28 physical casinos across the country, primarily located in Nevada, Illinois, Indiana, and Louisiana. These include well-known properties such as the Gold Coast Hotel and Casino, and Sam’s Town Hotel and Gambling Hall.

On January 24, Barclays raised their price target on the stock from $71 to $74, while keeping an Equal Weight rating. The firm noted that while Vegas, Macau, and digital prints are likely to underwhelm, other locations outside of Las Vegas are expected to beat the lower end of expectations to provide modest hope.

During the fiscal third quarter of 2024, Boyd Gaming Corporation (NYSE:BYD) reported robust results in its Downtown Las Vegas segment, largely due to recent investments in their properties and an increase in visitors from Hawaii. The Fremont Hotel and Casino were notable, the locations achieved record revenue and earnings before interest, taxes, depreciation, amortization, and rent (EBITDAR) during the quarter. It is one of the undervalued cyclical stocks to buy right now.

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